1934 Act Registration No. 1-14700
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2003
Taiwan Semiconductor Manufacturing Company Ltd.
(Translation of Registrant's Name Into English)
No.8 Li-Hsin Rd. 6,
Science Park
Hsin-chu, Taiwan
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F ___
---
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes ___ No X
---
(If "Yes" is marked, indicated below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82: _______.)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Taiwan Semiconductor Manufacturing Company Ltd.
Date:October 28, 2003 By /s/ Lora Ho
------------------------------------------
Lora Ho
Vice President & Chief Financial Officer
TSMC 2003 Third Quarter Sales Revenue Hit New Record High
Hsinchu, Taiwan, October 28, 2003 - Taiwan Semiconductor Manufacturing Company
Ltd. (TAIEX: 2330, NYSE: TSM) ("TSMC") today announced its financial results for
the third quarter of 2003. Net sales for its third quarter reached a new record
high of NT$54,877 million, while net income totaled NT$15,169 million. Earnings
per share were NT$0.75 based on the current 20,226,848 thousand weighted average
outstanding shares.
For the nine months ended September 30, 2003, the Company's net sales were
NT$144,125 million, while net income reached NT$31,256 million. Earnings per
share for the nine months ended September 30, 2003 were NT$1.54.
On a sequential basis, the Company's 2003 third quarter net sales grew 9.9
percent, net income increased 29.3 percent, and earnings per share grew 29.5
percent.
Compared to the same period for last year, TSMC 2003 third quarter net sales
grew 37.8 percent. Net income and earnings per share grew substantially by 380.0
percent and 395.4 percent, respectively, over 2002 third quarter.
Ms. Lora Ho, TSMC spokesperson and vice president, noted that, "Due to growth in
customer demand, TSMC's 2003 third quarter wafer shipments continued to
increase, reaching 992,000 eight-inch-equivalent wafers, for a 12 percent
increase over last quarter. On a sequential basis, average selling price (ASP)
remained flat. However, the exchange rate between US dollars and NT dollars was
weaker in 2003 third quarter. As a result, total net sales for the third quarter
of 2003 grew 9.9 percent sequentially."
Ms. Ho added that, "Revenues from TSMC's advanced process technologies,
including 0.18-micron and below process technologies accounted for 66 percent of
total wafer sales in the third quarter of 2003. The 0.13-micron process
technology alone accounted for 19 percent of our total sales. In addition, the
average utilization rate for the third quarter of 2003 increased to 98 percent
as compared to 88 percent for the second quarter of 2003. As a result, gross
margin for the third quarter of 2003 improved to 39.1 percent versus 36.8
percent in the previous quarter."
# # #
~ continued ~
Table 1: TSMC's 2003 third quarter results
(Unit: NT$million, except for EPS)
--------------------------------------------------------------------------------------------------------
3Q'03 3Q'02 YoY 2Q'03 QoQ
Amount* Amount Change % Amount Change %
--------------------------------------------------------------------------------------------------------
Net sales 54,877 39,835 37.8% 49,922 9.9%
--------------------------------------------------------------------------------------------------------
Gross profit 21,447 12,835 67.1% 18,351 16.9%
--------------------------------------------------------------------------------------------------------
Income from operations 16,487 8,367 97.0% 13,340 23.6%
--------------------------------------------------------------------------------------------------------
Income before tax 16,708 6,030 177.1% 12,572 32.9%
--------------------------------------------------------------------------------------------------------
Net income 15,169 3,160 380.0% 11,730 29.3%
========================================================================================================
EPS(NT$) 0.75** 0.15*** 395.4% 0.58**** 29.5%
--------------------------------------------------------------------------------------------------------
* 2003 third quarter figures have not been approved by Board of Directors
** Based on 20,226,848 thousand weighted average outstanding shares
*** Based on 20,220,989 thousand weighted average outstanding shares
**** Based on 20,221,270 thousand weighted average outstanding share
TSMC Spokesperson:
Ms. Lora Ho
Vice President & CFO
Tel: 886-3-566-4602
For further information, please contact:
Mr. J.H. Tzeng Mr. Jesse Chou Ms. Shan-Shan Guo
PR Department Manager, TSMC PR Manager, TSMC PR Manager, TSMC
Tel: 886-3-666-5028 (O) Tel: 886-3-666-5029 (O) Tel: 886-3-666-5033(O)
886-928-882-607(Mobile) 886-932-113-258(Mobile) 886-939-059-246 (Mobile)
Fax: 886-3-567-0121 Fax: 03-5670121 Fax: 03-5670121
E-mail: jhtzeng@tsmc.com E-Mail: jhchoua@tsmc.com Email: ssguo@tsmc.com